The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-03-11
Conflicting Rumors Concern
ing the Details
ONE COMMERCE LAW RESULT
Formation of Gigantic syste from
Canada To the Gulf and to the
Extreme West
The e & o. Sale.

| OoAG4 az AOl tu0 safe VI the balClm0rG q
Ohio Railroad. is authority for the fol
lowing statement: The plan for the
consolidation of various railroad inter
ests grew out of the efforts of Jay Gould
to induce Robert Garrett to pool the
business Of the Baltimore & Ohio Tele.
graph Company with that of the West
ern Union. Garrett absolutely refused
to become party to such an arrange
ment, and declared he wou d ALWAYS
| keep his business under his own control
that the telegraph and railroad inter
ests we're Identical and that they should
continue so as long as he controlled
| them, but at the same time he in timated
| that he was inclined to free himself of
business cares by the absolute sale OF
| the controlling int, 1st in the Baltimore
q Ohio Railroad, which would carry
with it the control of the telegraph and
express companies. With this hint as
a basis the negotiators returned to New
York and formed a syndicate composed
as follows: Calvin G. Brice, Alfred
| Sully, Austin Corbin, John G. Moore,
General Samuel Thomas, H. G. Figkn-
stock, Wlnslow, Lanier & Coz and
j. P. Pace. A contract was then
framed in which Garrett agreed to
transfer to the syndicate a controlling
interest in the Baltimore d Ohio Rail
road within thirty days for SIG, 900 600,
forfeiture being deposited by Garrett
| The contract was shown to Gould on
Saturday. 1t is understood that the
telegraph business is to go to the
Western Union Company, and the ex-
| press business to the Adams Express
Company.
New YORK. March 10.-The executive
committee of the Richmond Terminal
Company, will consider two PROPOSE
| tons relating to the purchase of the
Baltimore & Ohio stock under the
option given by Robert Garrett. One
of the directors said to-day that the
proposition most likely to be adopted
is that the syndicate shall take stock
| for their interests and hold it
until the Richmond Terminal full
board of directors approve of the action
of the executive committee. It will then
be placed in a collateral trust and
Richmond Terminal will either consol-
! idate the Baltimore & Ohio with their
| system or operate it separately as a
proprietary road. The Baltimore 81 Ohio
track from Baltimore and Washington
| to Philadelphia will be used as the trunk
| lines and othersroads in the Richmond
Terminal system. The Director claimed
that the Pennsylvania railway had no
interest in the deal nor had the Western
Union.
PHILADELPHIA, March 10.-Leading
executive officers of the Pennsylvania
railroad company say they have not
been consulted in regard to the Balti-
more and Ohio deal
NEW YORK, March 10.-Calvin S.
Brice, one of the Richmond Terminal
directors, and also supposed to be in
the syndicate to which President
Garrett. of the Baltimore & Ohio, has
offered the option of purchase, said,
after the meeting of the Richmond Ter
minal directors, to-day: 1--WE have
not decided yet whether or not we
shall accept the offer. I greatly doubt
if Garrett would sell, except on the con-
dition that the Baltimore & Ohio and
Richmond Terminal be consolidated,
making 600-mile trunk line"
Another Richmond Terminal director
said it was not likely that the company
would accept CARROTS offer, but he
thought the syndicate in which he said
Messrs. Brice, SulIY and Thomas are
interested would do so. This director
said that the terms were Sc, 600 600 down
and $10,000.000 in one year, stock for
that amount to be held as security. The
Richmond & Danville people, he said,
considered the figures altogether too
high.
BALTIMORE, March 10.-Robert Gar
rett this afternoon virtually admitted
to q prominent Baltimore man that
there was considerable truth in the
newspaper talk of the big railroad deal.
He would give no definite idea OF the
particulars of the scheme, but from his
remarks the inference was drawn that
the Baltimore & Ohio Railroad has be-
come a factor in the syndicate that is to
control something like a national rail-
way, reaching from Canada to the Gulf
Of Mexico and probably from New
York to the extreme west. It is gener-
ally believed that the biggest railroad
deal on record has been, or is about to
be made, AID that the passage of the
inter state commerce bill has hurried
the affair to settlement.
Mr.. Sully has been active in arrang-
ing the details of the scheme, and he is
the only one positively known to be
connected with it, but complete chain
is believed to have been formed by
the companies operating the connecting
roads running the entire length of
North America. Opinions differ as to
whether a single share Of Baltimore &
Ohio stock has been or will be trans
ferred, but the belief is gaining ground
that the deal involves not only the road
i self but also its telegraph, express and
sleeping Ca interests.
The widest sort of talk is daily in
dulged in, but no actual facts can be
obtained from anyone in a posi-
ton to know anything about it.
Many are inclined to believe that
they might rest assured tina what
ever was done would be for the best,
interests of the Baltimore, but further
i formation could not be given now.
From this it is inferred that the
scheme is not fully contaminated and
that important deyel pments might be
effected in the near future.
1t was stated in emphatic terms that
unGe no circumstances would the
Terminal Company issue any more OBJ
legations for the acquisition OF the Bal